Nasdaq CEO Believes That Cryptocurrencies Could Be ‘Global Currency of Future’
Adena Friedman, the CEO of Nasdaq believes that 2019 will be the year for disruption and innovation. According to her, there is still a massive probability that Cryptocurrencies will be a global currency if the “tremendous demonstration of genius and creativity” finds practical utility.
In a post on LinkedIn titled – New chapters in innovation and disruption will be written in 2019, Friedman affirms the statement by many other crypto supporters that the cryptocurrency space has gone through the first stage of the “classic invention lifecycle” this is:
“Marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.”
The last of it, the dose of reality have brought on a tough time for many. Bitcoin prices have fallen around 80% from its peak. The market capitalization of cryptocurrencies has stepped down by over $400 billion. While the early investors are still observing profits, those who joined during its rising are surely feeling the brunt.
I’m at #WEF2019 and looking forward to the many discussions this week. This year I’ve taken some time to write about my thoughts on the market developments I’m watching in 2019 #Davos2019 @wef https://t.co/M7dhke2UoN pic.twitter.com/0Wp8EGKErD
— Adena Friedman (@adenatfriedman) January 20, 2019
Cryptocurrencies – The Internet or The Segway
Often the cryptocurrencies market has been compared to the evolution of the Internet. Being on the same page, Friedman sees one of the two things happening next. Firstly, like the internet:
“The innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric.”
Or secondly like the Segway:
“The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited.”
Inviting the Investors
“It is difficult to ignore the huge amount that investors, including some of the most sophisticated global investors, have poured into digital currencies in recent years.”
Adding that the market “deserves an opportunity to find a sustainable future in our economy.” Which according to her depends on governance and regulatory clarity both “antithetical” to a “decentralized, ungovernable” currency.
— Adena Friedman (@adenatfriedman) December 10, 2018
Friedman elaborates that Nasdaq aims to gain investors trust in cryptocurrency by implementing its trade technology and integrity. Nasdaq’s software is being used by the Winklevoss twin’s Gemini exchange. The firm has also contributed to Singapore’s efforts to settle tokenized assets and invested in the Wall Street ErisX crypto-exchange. In addition, their bitcoin futures will release by Q1 2019, in partnership with VanEck.
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.